Engage. Listen. Innovate. Building High-Impact Customer Advisory Boards

At CoinJar Insights & Strategy, we’ve seen firsthand how meaningful it can be to engage your most invested customers. One of the best ways to tap into their expertise and enthusiasm is through an advisory board format—or AdBoards, as they are often called. AdBoards create a space where your customers can contribute ideas, offer feedback, and help shape your product’s future. Because we often recommend working with Catalytic Customers in an advisory capacity, we thought it would be useful to share some thoughts on how and when to use Advisory Boards, as well as some tips and tricks for making them work.

Why Customer Advisory Boards Matter

AdBoards bring together a curated group of engaged, knowledgeable customers to provide feedback and strategic direction. When done right, they unlock incredible opportunities:

• Direct Access to Strategic Insights: AdBoards connect you with customers who can offer clear, unfiltered perspectives on your roadmap, highlighting opportunities and gaps you may have overlooked.

  
  

• Deeper Customer Relationships: Inviting customers to contribute at this level builds trust and a sense of partnership, which translates into loyalty.

  
  

• Market Validation: AdBoards provide a testing ground for new ideas and features, giving you confidence before launching at scale.

  
  

• Amplified Advocacy: Members often become some of your most vocal supporters, naturally spreading the word about your product.

Best Practices for Employing Advisory Boards

Making the most of an Advisory Board requires thoughtful planning and execution. Here’s how we work with our clients to ensure success:

1. Define Clear Objectives

Be specific about what you want to achieve with your AdBoard. Are you exploring new market opportunities? Seeking validation for a product feature? Clear goals keep the group focused and productive.

2. Curate the Right Members

Your board’s value comes from the people in it. Invite a mix of customers who are:

• Highly engaged with your product

• Knowledgeable about your industry

• Willing to share honest, constructive feedback

• Represent diversity in perspective—from different industries, roles, or regions—to enhance the richness of insights

3. Structure Your Meetings Thoughtfully

AdBoards thrive on preparation and structure. Set clear agendas, and use interactive formats like:

• Problem-solving workshops

• Scenario-based discussions

• Collaborative brainstorming sessions

4. Encourage Open Dialogue

Create an environment where all voices are heard. Set the tone early, emphasizing respect and balance to ensure everyone’s input is valued.

5. Follow Up on Feedback

Nothing feels worse to participants than giving their time and energy only for their input to disappear into a black hole. Be transparent about how their ideas have shaped your decisions, and share tangible outcomes.

6. Nurture Long-Term Relationships

AdBoards shouldn’t feel transactional. Show your appreciation with gestures like exclusive product previews, personalized thank-you notes, or public recognition of their contributions.

Pitfalls to Avoid

Even the best intentions can falter without careful management. Watch out for these traps:

• Lack of Clear Goals: Without a defined purpose, conversations can become unfocused and unproductive.

  
  

• Unbalanced Membership: Overloading the board with overly agreeable members or failing to ensure diverse perspectives limits the value of discussions

  
  

• Overwhelming Participants: Don’t overburden your members with lengthy or frequent sessions. Keep meetings concise and impactful.

  
  

• Failure to Act on Feedback: Ignoring or sidelining contributions erodes trust and discourages future participation.

  
  

• One-Time Engagements: Treating an AdBoard as a one-off exercise misses the opportunity for sustained collaboration and deeper insights.

Why Catalytic Customers Excel as Advisory Board Participants

While any well-chosen customer can contribute value to an AdBoard, Catalytic Customers take things to the next level. Specifically, Catalytic Customers offer:

• Deep Knowledge: Their expertise in your category allows them to identify opportunities and risks others might miss.

• Constructive Approach: Catalytic Customers are critical but always solution-oriented, helping refine ideas rather than just pointing out flaws.

• Future-Focused Mindset: They’re invested in seeing your product succeed, offering ideas that drive innovation and long-term growth.

When you bring Catalytic Customers into your AdBoard, you’re not just gathering feedback—you’re gaining collaborators who can point you toward a relevant future.